April 2011 Longmont Statistics

Do you remember 2009? The first part of that year was very similar to the start of 2011 so far. But in 2011, we are actually running at about a consistent 16% less volume each month compared to 2009. That kind of statistic brings out either the groans or the fangs. The question of whether that is good or bad is also raised. I kind of think there is a correlation between the two. Those who groan see only bad. The ones who bear their fangs start to drool. The difference is not just an attitude or confidence. The Realtors who are drooling are doing so because they know that there will be plenty of pessimism in the marketplace. They know the groan-ers will not be the do-ers. And the simple formula of mixing 50% enthusiasm, with 50% action and 50% consistency will net them another successful year.

I have been counseling lenders for 8 months to pick up their phone and make appointments to take every Realtor they know out for coffee. I’ve been advising Realtors for 6 months to pick up the phone and call everyone in their database to check up on their kids, dog, work and family. All this in preparation for 2011 when business is going to be its toughest in years. How many have listened to my advice? Not many. The few who have, found a gold mine sitting in their database. Think of all the Realtors and lenders who have left the business over the past 4 years. Who is marketing to their database? Nobody. Think of all the Realtors and lenders who have cut back on their sphere marketing programs over the past four years in order to conserve money. Who is marketing to their database? Nobody. There are a LOT of free-agents out there wanting to buy or sell a home who don’t have a go-to industry professional. To be successful in 2011 you have to be the one to find them and it is going to take a LOT of work.

Sales are still occurring out there. There are only 41 fewer sales in Longmont versus 2009 and we are only 25 behind where The Predictor says we should be for the year. The ugly negative numbers in this report are still being compared to the fake, stimulus fueled numbers from last year. The stimulus ended on June 30th of last year, so it won’t be until we report the August numbers in September when these largely negative looking numbers will disappear. I am available for confidential meetings to discuss your business strategy, work habits, brainstorm or otherwise assist you in helping you develop new business so you can have a successful year.

In the first month of the new year, the housing market continued to underperform its potential, but gave us signs of promise for the future. Actual existing-home sales are 5.3 percent below the market’s potential, according to our Potential Home Sales model. That means the market has the potential to support 293,000 more home sales […]

Contrary to many reports, student loan debt is not an insurmountable barrier to homeownership for millennials. Student loan debt is more likely to delay the timing of homeownership, but it does not necessarily prevent homeownership. But, this begs the questions, how does student loan debt impact house-buying power? And, is higher education a worthwhile investment?

First American Deputy Chief Economist Odeta Kushi provided perspective on millennial homeownership in an interview with National Public Radio and Chief Economist Mark Fleming’s expectations for the spring home buying season were featured in a Forbes.com article earlier this month.

In December 2018, the Loan Application Defect Index for purchase transactions continued its string of month-over-month increases, rising for the fourth month in a row. Despite the upswing, the Defect Index for purchase transactions still remains 1.1 percent below its level in December 2017. The Defect Index for refinance transactions also increased 8.2 percent compared […]